Tag: Delhi-NCR

IndustryLatest Stories

TARC Reports ₹54 Crore Profit in Q1 FY26

NEW DELHI: Realty company TARC Ltd has reported a consolidated net profit of ₹54.21 crore for the quarter ending June 30, 2025. In the corresponding quarter last year, the company had a net loss of ₹30.67 crore. Total income surged to ₹295.36 crore during the quarter, up from ₹9.62 crore a year earlier, according to a regulatory filing made on Tuesday. TARC Ltd is actively developing several real estate projects in the Delhi and Gurugram regions. During the fiscal year 2024-25, the company reported a net loss of ₹231.28 crore with total income of ₹38.88 crore. Published On Aug 13,…

IndustryLatest Stories

Grovy India reports ₹1.1 crore profit in Q1 FY26

NEW DELHI: Realty firm Grovy India Ltd reported a net profit of ₹1.1 crore in the first quarter of the current fiscal year. In the same period last year, the Delhi-based company faced a net loss of ₹25 lakh. According to Grovy’s statement, total revenue surged to ₹8.3 crore for the April-June quarter, up from ₹1.3 crore during the same timeframe last year. Founded in 1985, Grovy India specializes in real estate development and consultancy, having completed over 100 independent floor projects mainly in South Delhi. The company is currently developing more than 1 lakh square feet of luxury apartments…

InfrastructureLatest Stories

DDA Aims to Complete Karkardooma Transit Project by Dec 2026

Representative image created by AI NEW DELHI: The Delhi Development Authority’s inaugural transit-oriented development project at Karkardooma is expected to be completed by the end of next year. “The overall completion of the project is aimed for December 2026. The residential section will include approximately 500 units for economically weaker sections (EWS) and around 1,000 flats for middle-income groups. Currently, there is no plan for studio apartments,” stated a DDA official. Construction of additional residential towers is underway. “Structural work is nearing completion, while finishing touches, internal services, landscaping, and acquiring statutory clearances are still in progress,” the official added.…

Latest StoriesResidential

DDA Starts Rent Payouts for Signature View Residents

NEW DELHI: On Wednesday, the long-anticipated request from the residents of Signature View Apartments in Mukherjee Nagar, North Delhi, was addressed as the Delhi Development Authority (DDA) commenced compensatory rent payments for the original occupants of the residential complex marked for demolition. This action clears the way for the redevelopment of the apartment complex, which has been declared uninhabitable. A DDA representative confirmed that 56 residents who submitted the necessary documents and vacated their flats received rent payments up until the end of July. Other residents will be included as beneficiaries starting in September. “Residents who left the complex before…

IndustryLatest Stories

DLF to invest ₹23,500 crore in ongoing housing projects

NEW DELHI: DLF Ltd, India’s leading real estate firm, plans to invest ₹23,500 crore to finalize its ongoing residential projects in Delhi-NCR and Mumbai. As outlined in an investor presentation, the total estimated cost to complete these launched projects is ₹23,500 crore. To finance the pending construction, DLF has reported a cash reserve of ₹10,429 crore, with ₹7,782 crore held in an escrow account regulated by the Real Estate Regulatory Authority (RERA). Furthermore, the company holds receivables totaling ₹37,220 crore from customers for residential properties sold. DLF’s Chief Financial Officer (CFO) recently stated in a conference call that the company…

IndustryLatest Stories

SEIAA & SEAC Dissolution Delays Delhi Environmental Approvals

NEW DELHI: The dissolution of the State Level Environment Impact Assessment Authority (SEIAA) and the State Level Expert Appraisal Committee (SEAC) has resulted in delays in the issuance of environmental clearances, according to a builder’s statement to the National Green Tribunal (NGT) on July 31. In an affidavit to the NGT, the Delhi Pollution Control Committee (DPCC) noted that the state is unable to issue environmental clearances because both authorities are currently inactive. Consequently, the Union Ministry of Environment is now responsible for granting these clearances. The NGT is reviewing a plea from a builder who applied for environmental clearance…

IndustryLatest Stories

SEIAA & SEAC Dissolution Delays Delhi’s Environmental Approvals

NEW DELHI: A builder informed the National Green Tribunal (NGT) on July 31 that the dissolution of the State Level Environment Impact Assessment Authority (SEIAA) and the State Level Expert Appraisal Committee (SEAC) has resulted in delays in obtaining environmental clearances. In an affidavit to the NGT, the Delhi Pollution Control Committee (DPCC) mentioned that environmental clearances cannot be issued at this time due to the defunct status of these two authorities. Currently, these clearances are being issued by the Union environment ministry. The NGT is reviewing a plea from a builder who applied for environmental clearance (EC) in February…

Latest StoriesRegulatory

Delhi Court Allows AVUT to Assist in Sushil Ansal Case

Representational image NEW DELHI: A Delhi court has permitted the Association of the Victims of the Uphaar Tragedy (AVUT) to aid the prosecution in a fraud case against businessman Sushil Ansal. Ansal was found guilty in the 1997 Uphaar cinema fire incident that resulted in the deaths of 59 individuals. The chairperson of AVUT, Neelam Krishnamoorthy, submitted a request to assist the prosecution, citing specific concerns regarding the investigation and the chargesheet. In 2019, the Delhi Police’s crime branch charged Ansal under Section 12 of the Passport Act for allegedly obtaining a passport while concealing information about his nationality. Additionally,…

Latest StoriesResidential

DDA Starts Rent Payments for Signature View Residents

NEW DELHI: The Delhi Development Authority (DDA) is preparing to initiate rent payments for residents of Signature View Apartments, many of whom have left their units after they were deemed structurally unsafe. Amrendra Singh Rakesh, president of the apartment’s Resident Welfare Association (RWA), stated on Tuesday: “We have received the rent agreement set to be signed between the flat owners and the DDA. The authority will provide rent payments from January to July this year, and continue until demolition and reconstruction are completed.” In a prior high-level meeting led by Lt Governor VK Saxena, the DDA confirmed that rent assistance…

InfrastructureLatest Stories

Delhi CM presents CAG audit on construction workers’ welfare

Representative image created by AI NEW DELHI: On Monday, Delhi Chief Minister Rekha Gupta presented a CAG audit report in the Assembly that uncovered irregularities in the registration of construction workers. The report indicated insufficient spending on their welfare, even though the state government had more than ₹3,500 crore available from 2019 to 2023. The Comptroller and Auditor General (CAG) of India’s report on ‘Welfare of Building and Other Construction Workers’ (BOCW) examined the preceding four years under the previous Aam Aadmi Party (AAP) government. The report found that the Delhi government lacked reliable data on the number of BOCWs,…